Morning Natural Gas Market Report for 2/11/2011

March natural gas prices remained under pressure this morning, as they appeared to be poised to extend the recent 6-day losing streak. The sentiment in the market seemed to shrug off a slightly larger than expected EIA storage decline and instead embraced ideas of milder weather conditions ahead. Yesterday's EIA natural gas storage report showed a slightly larger than expected inventory decline of 209 bcf, which brought total storage to 2,144 bcf. Inventories are now 2.1% below the 5-year average. This has only occurred two other times since September 2008.